Java SE version 7 was released in 2011. The new features, in comparison to the version 6, include dynamic language support, compressed pointers, small language extensions, elliptic curve cryptography, new network protocols, the ability to use Strings as case values in a switch statement, and various system library extensions.
Oracle has two products that implement Java Platform Standard Edition (Java SE) 7: Java SE Development Kit (JDK) 7 and Java SE Runtime Environment (JRE) 7.
JDK 7 is a superset of JRE 7, and contains everything that is in JRE 7, plus tools such as the compilers and debuggers necessary for developing applets and applications. JRE 7 provides the libraries, the Java Virtual Machine (JVM), and other components to run applets and applications written in the Java programming language.
The following conceptual diagram illustrates Java component technologies:
See java for more information.
Java 7 Official Documentation: http://docs.oracle.com/javase/7/docs/api/